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Best Emergency Loans For Bad Credit
Compare the Best Emergency Loans for Bad Credit
Best Emergency Loans for Bad Credit: A Closer Look
Best for Flexible Requirements
Upgrade
Loan amounts
$1,000 to $50,000
APR range
7.74% to 35.99%
Minimum Credit Score
580
$1,000 to $50,000
7.74% to 35.99%
580
Upgrade offers loans with quick funding turnarounds and a low minimum credit score requirement.
Why We Like It
In addition to setting a minimum credit score requirement of 580, Upgrade has two- to seven-year repayment terms and there is no prepayment penalty.
What We Don’t Like
Upgrade charges an origination fee between 1.85% and 9.99% of the loan amount, and there are no interest rate discounts for autopay.
Who It’s Best For
Upgrade personal loans are best for borrowers who want quick access to funding with flexible requirements.
- Direct payment to creditors streamlines the consolidation process
- 24/7 live chat customer support available
- Offers both co-signer and co-borrower options
- Charges origination fees on consolidation loans
- High maximum loan APR ( 35.99%)
- Average 3-day funding timeline
Lender Details
Eligibility
- Minimum credit score: 580
- Co-signers/co-borrowers: Accepted
Funding Speed
Funding may occur within one business day of clearing verification.
Best for Limited Credit History
Upstart
Loan amounts
$1,000 to $75,000
APR range
6.20% to 35.99%
Minimum Credit Score
300
$1,000 to $75,000
6.20% to 35.99%
300
Upstart evaluates applicants using non-traditional qualification requirements, making it an accessible option for those with a limited credit history.
Why We Like It
Upstart sets a minimum credit score requirement of 300 and accepts borrowers who don’t have enough credit to generate a credit score.
What We Don’t Like
Upstart offers more limited repayment terms than other lenders—three to five years—and origination fees may be as much as up to 12% of the loan amount.
Who It’s Best For
Upstart personal loans are best for applicants with thin credit who might struggle to get approved elsewhere.
- Lowest minimum credit score (300)
- Approval process considers factors like education and employment
- Loan amounts up to $1,000 to $75,000
- Fast average funding (3 days)
- Longer minimum loan term (36 months and 60 months)
- Origination fees apply
- iPhone-only mobile app
- No autopay discount available
Lender details
Eligibility
- Minimum credit score:300
- Co-signers/co-borrowers:Not accepted
Funding Speed
Next-day funding may be available if you accept a loan before 5 p.m. ET on a business day.
Best for Co-borrowers
LendingClub
Loan amounts
$1,000 to $60,000
APR range
5.96% to 35.99%
Minimum Credit Score
600
$1,000 to $60,000
5.96% to 35.99%
600
LendingClub offers borrowers personal loans with quick funding turnarounds and the ability to apply with a co-borrower.
Why We Like It
LendingClub requires a minimum credit score of just 600 and allows applicants to boost their approval odds with the help of a co-borrower.
What We Don’t Like
LendingClub charges high APRs and doesn’t offer an autopay discount. Borrowers also face an origination fee between 0% to 8% of the total loan amount, which is taken from the loan proceeds at funding.
Who It’s Best For
LendingClub personal loans are best for those applying for an emergency loan with a co-borrower.
- Low minimum APR compared to the alternatives ( 5.96%)
- Offers direct payment to creditors
- Offers a co-borrower option
- Live chat support is available
- Charges origination fees
- Higher maximum APR ( 35.99%)
- Lower maximum loan amount ( up to $60,000)
- No autopay discount available
Lender Details
Eligibility
- Minimum credit score: 600
- Co-signers/co-borrowers: Co-borrowers accepted
Funding Speed
Funding may occur within 24 hours.
Best for Customer Service
Avant
Loan amounts
$1,000 to $40,000
APR range
9.95% to 35.99%
Minimum Credit Score
580
$1,000 to $40,000
9.95% to 35.99%
580
Avant is a consumer lending platform that offers secured and unsecured personal loans.
Why We Like It
Avant offers robust and convenient customer support options, including a phone number dedicated to personal loans, an online application, a mobile app and extensive online resources.
What We Don’t Like
Avant’s loans come with an administration fee of up to 9.99%, and loan amounts range from $1,000 to $40,000—more restrictive than those offered by other lenders.
Who It’s Best For
Avant’s personal loans are best for middle-income borrowers with less-than-stellar credit who value customer satisfaction and quick access to funds.
- Low minimum credit requirement of 580
- Funding as soon as the next business day
- Seven-day customer support available
- High minimum APR of 9.95%
- Administration fee up to 9.99%
- Doesn’t pay creditors directly
Best for Long Repayment Terms
LendingPoint
Minimum Credit Score
600
APR range
7.99% to 35.99%
with autopay
Loan amounts
$1,000 to $36,500
600
7.99% to 35.99%
with autopay
$1,000 to $36,500
LendingPoint is an online lender that offers personal loans with repayment terms from two to six years.
Why We Like It
LendingPoint’s lengthy loan terms and flexible loan amounts of $1,000 to $36,500 mean borrowers are more likely to find a personal loan payment that fits their budget.
What We Don’t Like
LendingPoint has high maximum APRs and its origination fees are as much as up to 10%, depending on your state.
Who It’s Best For
LendingPoint personal loans are best for fair-credit borrowers who want to keep their monthly payments manageable with longer repayment terms.
- Funding as soon as the next business day
- Low credit score requirement
- No prepayment penalty
- Origination fee up to 10%
- Co-signers or joint loans not permitted
- Not available in Nevada or West Virginia
Eligibility:
- Minimum credit score. 600
- Minimum annual income. $35,000
- Co-signers. Not permitted
Customer service
After testing and evaluating LendingPoint’s customer service, we found it to be one of the most helpful and transparent lenders on our list after waiting only 46 seconds to be connected to a representative. The customer service representative we spoke with shared an in-depth perspective of their loan offers, including information about loan amounts, eligibility requirements, how interest rates are determined and prequalification.
LendingPoint’s team also disclosed late fees but didn’t confirm origination fees. While customer service didn’t share this information wasn’t, the lender discloses a fee of up to 10% on its website. LendingPoint was also one of few lenders that shared how they report payments to credit bureaus, which it typically does at the start of the month.
Best for Small Loans
OneMain Financial
Minimum Credit Score
OneMain Financial does not disclose this information
APR range
11.99% to 35.99%
Loan amounts
$1,500 to $30,000
OneMain Financial does not disclose this information
11.99% to 35.99%
$1,500 to $30,000
OneMain Financial works with borrowers with less-than-perfect credit and offers small loans ranging from $1,500 to $30,000, depending on the state.
Why We Like It
OneMain Financial offers small loan amounts that borrowers can receive via debit card within one hour after loan closing or within one to two banking days if disbursed via direct deposit.
What We Don’t Like
OneMain Financial’s loans come with high minimum interest rates starting at 18%. The lender’s origination fees range from 1% to 10% of the loan amount or a $25 to $500 flat fee.
Who It’s Best For
OneMain Financial’s personal loans are best for subprime borrowers who need a small amount of money with fast funding speeds.
- Designed for borrowers with low credit scores
- Offers secured loan options
- Evaluates entire credit and income history instead of credit score
- Limits only up to $20,000
- Can’t be used for business purposes
- Charges high APRs
Eligibility:
- Minimum credit score required. No minimum credit score requirement
- Minimum annual income. No minimum income requirement
- Co-borrowers. Not permitted
- Co-signers. Permitted
Tips for Comparing Emergency Loans for Bad Credit
Consider these tips as you compare emergency loans for bad credit:
- Review your credit score. Knowing your credit score can help you find loans you’ll qualify for. You can get free annual credit reports from AnnualCreditReport.com.
- Check interest rates. If you need a bad credit loan, you’ll likely be offered loans with a higher interest rate, compared to a more qualified applicant. Research and compare different APRs—taking into account the interest rate and fees—from various lenders to get the best rate possible.
- Read the terms and conditions. Understand the terms and conditions before agreeing to any loan, especially an emergency loan. It can be tempting to rush through the lending process to get funds quickly, but knowing the conditions can help you avoid a loan that’s difficult to repay.
- Compare repayment terms. The shorter the loan term, or time you have to repay the loan, the higher the monthly payment. Consider the repayment terms available from each lender to find one that aligns with your budget, keeping in mind that many emergency loans come with abbreviated terms.
- Research lenders. Read reviews and customer feedback about any lender you’re considering. This can help you determine which lenders are trustworthy and provide the best overall customer experience—and which are well-suited to less-qualified borrowers.
What Is an Emergency Loan?
An emergency loan is a personal loan designed to help you cover unexpected expenses or costs. Personal loan amounts often range from $1,000 to $100,000, with interest rates up to around 36%. Applying for an emergency loan typically involves a credit check, making it difficult for applicants with bad credit to qualify for a loan.
If you have bad credit, there may still be options available to you. Many lenders offer emergency loans specifically designed to provide financial assistance for those with poor or no credit history. That said, you’ll likely be offered high interest rates and less attractive terms than those on the best personal loans.
Emergency Loan vs. Emergency Fund: Costs
The cost to get an emergency loan with bad credit depends on the lender, loan amount, repayment terms and fees. For more traditional options, like personal loans, you may encounter interest rates from around 15% to 36% and origination fees up to 12% of the loan amount. Financing tools like payday loans and cash advances often come with much higher interest rates and shorter repayment periods.
An emergency fund, on the other hand, is an account where you keep money set aside in case of an emergency. If you cover an unexpected cost with your emergency fund, you won’t have to pay any interest or other fees. This can keep your expenses lower and make it easier to maintain your emergency fund over time.
Consider, for example, taking out a $2,000 personal loan for medical costs versus using a $2,000 emergency fund to cover the same expense. With a 30% interest rate and 36-month repayment term, you’d pay $84.90 each month and the total cost of borrowing would be $3,056.52. This means you’d pay over $1,000 in interest over the life of the loan. If you have an emergency fund with sufficient savings, you’d only pay the actual medical costs—$2,000.
A personal loan calculator can help you estimate the total repayment amount and determine if an emergency loan is the right choice.
Can You Get an Emergency Loan With Bad Credit?
You can get an emergency loan with bad credit, but it may be more difficult to qualify, and you’ll likely face high borrowing costs and short repayment terms. Traditional lenders, such as banks and credit unions, may hesitate to issue you a loan if you have a low credit score. Your approval odds may improve if you have an existing relationship with the institution.
Some lenders offer emergency loans specifically to consumers with poor credit, but research your options before making a decision. Alternative options, such as payday loans and cash advance apps, may offer more lenient requirements for loan approval but come with additional risks.
Pros and Cons of Emergency Loans for Bad Credit
As you consider different funding options to cover a temporary financial need, consider the pros and cons of emergency loans for bad credit.
Pros
- Quick access to funds. Emergency loans are designed to provide borrowers with fast access to cash. These lenders often have streamlined application processes and quicker approval times compared to traditional loans, allowing you to receive funds within hours or days.
- Flexible loan amounts. Many lenders offering emergency loans cater to a range of financial needs, allowing borrowers to choose the right loan amount for their situation.
- Low credit score requirements. Lenders specializing in emergency loans for borrowers with bad credit often have less stringent credit requirements. This lets individuals with less-than-stellar credit bridge financial gaps when emergencies arise.
- Opportunity to improve your credit score. By making consistent, on-time payments, you’ll add positive marks to your credit history, demonstrating to future lenders your improved creditworthiness. This can open the door for better loan options in the future.
- Lower interest rates than other options. While emergency loans generally carry higher interest rates than conventional loans, they might still be more affordable than other high-cost borrowing options, such as payday loans or credit card cash advances.
Cons
- Higher interest rates. Emergency loans frequently come with higher interest rates than traditional loans. This can make repayment costly.
- Shorter repayment terms. Many emergency loans are structured with shorter repayment periods, which can result in high monthly payments. A lack of manageable repayment options can increase the likelihood of missed payments, potentially resulting in additional fees or penalties.
- Potential for debt cycle. Convenience and quick access to funds may encourage some borrowers to rely on emergency loans repeatedly during financial hardships. This dependence can create a cycle of debt where borrowers continually take out new loans to pay off existing ones.
- Limited loan amounts. Some lenders offer flexible loan amounts, but emergency loans for bad credit often have lower borrowing limits. These lower borrowing amounts may not be enough to cover significant emergencies, potentially requiring multiple loans.
- Risk of predatory lenders. The demand for emergency loans among consumers with bad credit is viewed as an opportunity for predatory lending practices. Predatory lenders exploit vulnerable borrowers through exorbitant fees, hidden loan terms or unfair lending practices.
Where Can I Get an Emergency Loan With Bad Credit?
Depending on your other qualifications, you may be able to take out an emergency loan from a bank, credit union or online lender—even with a bad credit score. Here’s where you can apply for an emergency loan with bad credit and what you can expect from each:
Banks
Most banks require consumers to have a minimum credit score of at least 670 to qualify for a personal loan. However, some offer loans to customers with scores below that threshold, and many allow you to prequalify for personal loans without impacting your credit score.
Interest rates on bank personal loans typically start around 6% and maximum interest rates may be lower than those from online lenders. If you have a relationship with a bank, contact a loan officer to learn more about your options, approval odds and likely interest rates.
Credit Unions
Credit union qualification requirements vary by institution, with many loans from credit unions having more lenient emergency loan qualifications. Because credit unions are often community-oriented, they may look at your loan application more holistically than larger banks. Payday alternative loans are one option that credit unions offer to borrowers needing a small loan.
Having an existing relationship with a local credit union can make it easier to qualify for funds in an emergency. Interest rates are often more favorable than those available from online and alternative lenders—federal credit unions cap annual percentage rates (APRs) at 18%.
Online Lenders
Online lenders have emerged as an alternative to traditional financial institutions that can be especially helpful if you have a bad credit score. You typically need a minimum score of 580 to qualify for a loan with an online lender.
As with traditional lenders, some platforms specialize in bad credit borrowers, and some don’t require borrowers to have a score at all. Interest rates for these types of loans are generally higher than traditional loans, with rates up to 36%. Compared to conventional financial institutions, online lenders may have higher rates, but they also offer faster access to funds and a more lenient credit approval process.
Types of Emergency Loans for Bad Credit
Facing an emergency expense is daunting when you have bad credit. Whether you need to cover a large car repair bill or ongoing medical costs, several types of emergency loans can address varying borrowing needs and financial situations.
These are some common types of emergency loans for bad credit and when they might be a good fit for your needs:
Personal Loan
Personal loans are installment loans that let you borrow a lump sum and repay it in monthly installments over time—usually two to seven years. Traditional personal loans may be harder to qualify for than other types of emergency loans, but some lenders specialize in borrowers with less-than-stellar credit. Consider this option if you need access to funds all at once and prefer to repay the loan over time.
Title Loan
Title loans require you to use your car title as collateral. While this can make it easier to qualify for a loan with bad credit, it means the lender can seize your vehicle if you fail to repay your loan. What’s more, the loan amount is limited by the value of the car (and state title loan regulations), and some lenders require that you own your car outright to qualify for this type of financing.
Payday Loan
Taking out a payday loan involves getting a short-term loan and repaying it in full before your next payday. Because these loans don’t typically require a credit check, they might be a good fit if you won’t qualify for a personal loan or a title loan. However, payday loans come with extremely high interest rates, so only choose this option if you need to borrow a small amount that you can repay before your next paycheck.
Personal Line of Credit
If you don’t need all of the cash at once, consider a personal line of credit instead of a loan. With a line of credit, you get approved for a borrowing limit and then make draws against your limit as needed. This may be a good option if you need to cover ongoing expenses and can qualify based on your income or other factors.
How To Qualify for Emergency Loans
Emergency loans can be a lifeline if you need cash quickly, but getting one with bad credit can be challenging. Requirements vary by lender, but most will consider factors like your income, credit score and job history. If you have a poor credit history, lenders may rely more heavily on your income and employment history when reviewing your application.
Here’s what lenders may consider when evaluating whether you qualify for an emergency loan:
- Credit score. Many lenders require borrowers to have a good or fair credit score to qualify for a personal loan or other type of emergency funding. However, some lenders make loans more accessible by catering to borrowers with low credit scores.
- Proof of income. Lenders need to ensure you have a source of income to cover monthly loan payments. Depending on the lender and your job, you may need to provide pay stubs, tax returns or other proof of self-employment income.
- Job history and security. A stable employment history can demonstrate to lenders that you’re reliable and have a steady source of income. Gaps in employment can raise concerns, so make sure you can explain any inconsistencies in your employment history. If you’re out of work, consider the best unemployment emergency loans.
- Debt-to-income ratio. Your debt-to-income ratio (or DTI) is the percentage of your monthly income that goes toward monthly debt payments. Most lenders require a DTI of 36% or lower for personal loans, as this suggests you can responsibly take on additional debt.
- Availability of collateral. If you opt for a title loan or other secured loan, the lender will evaluate your collateral. In the case of a title loan, the loan amount may be tied to the value of the vehicle. Keep in mind that it can take longer to receive secured loan funds, so it might not be a good option if you need a fast personal loan.
How To Get an Emergency Loan With Bad Credit
Covering unexpected expenses can be difficult, especially when you have bad credit. Regardless of your credit history, there are options available. Here’s how to get an emergency loan with bad credit:
- Check your credit report and score. Start by requesting a copy of your credit report to better understand your financial standing. If you have time, check the reports for errors and dispute them with the major credit bureaus. Also look up your current credit score so you can provide it as part of the prequalification process.
- Research lenders that specialize in borrowers with bad credit. To get an emergency loan with bad credit, you’ll need to find lenders that work with borrowers with less-than-stellar credit profiles. Be aware, though, that some of these lenders, like payday loan and guaranteed loan lenders, might offer loans with exorbitant fees that can be difficult to repay.
- Prequalify and compare options. If you have bad credit, it may be hard to qualify for a loan. Prequalifying allows you to evaluate your approval odds—and interest rates—at multiple lenders without damaging your credit score. The process usually only takes a few minutes, so it won’t slow you down if you need fast access to cash.
- Consider applying with a co-signer. A co-signer is someone with a good credit score who agrees to take responsibility for the loan if you default. Because this decreases the risk to the lender, applying with a co-signer can increase your approval odds.
If you decide to apply for a loan with a co-signer, the ideal co-signer is someone with good credit or a FICO score of 670 or higher. Having a co-signer with strong credit increases your approval odds and chances of qualifying for a loan with a low interest rate.
5 Alternatives to Bad Credit Emergency Loans
It’s possible to qualify for an emergency loan with bad credit, but there are a few other options that may better meet your needs. Here are popular alternatives to bad credit emergency loans:
1. Credit Cards
Credit cards can provide continual access to funds without a lengthy application process. This can be especially beneficial if unexpected expenses arise, as you can quickly and conveniently access credit. Interest rates may be as high as 25% to 30%, with less-qualified applicants getting the highest rates.
Using a credit card to cover expenses can lead to overborrowing if you aren’t careful. If you plan on using a credit card to cover unexpected expenses, make a plan for paying off the debt you accumulate so you don’t borrow more money than you can repay.
2. Cash Advance
A cash advance is a type of short-term loan designed to provide fast cash in a financial emergency. These advances are typically less than $500. Although cash advances can be beneficial in an emergency, you should only use them as a last resort due to their high interest rates and fees.
3. 401(k) Loans
A 401(k) loan is a type of loan that allows you to borrow from the funds available in your retirement account. With one of these loans, you borrow against your savings and the payments go back into your 401(k) account. The process can take anywhere from one or two days to several weeks.
Generally, a 401(k) loan is best if you have no other possible means of financing an emergency and have ample time to repay the loan without depleting your long-term retirement savings.
4. Nonprofit or Community Assistance Programs
Many non-profits and local organizations offer financial aid or support services like rent assistance, utility payment support or food banks. Depending on why and how much you need to borrow, these programs may not be an option. However, they can be beneficial if you’re facing a temporary crisis and need immediate help with basic expenses.
5. Friends and Family
When you need emergency financial assistance, it’s worth considering if friends or family could lend you money. Borrowing from people you trust can alleviate the pressure of repaying high-interest loans, and you can get financial support without going through a credit check.
It’s crucial to prioritize repaying the loan to avoid damaging relationships, and you should always create a written contract before money is exchanged, so everyone understands how and when the loan will be repaid.
Methodology
We reviewed 31 popular lenders based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We chose the best lenders based on the weighting assigned to each category:
- Application process. 30%
- Eligibility and accessibility. 30%
- Loan details. 20%
- Loan cost. 10%
- Customer experience. 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms, APR ranges and applicable fees. We also looked at minimum credit score requirements, whether each lender accepts co-signers or joint applications and the geographic availability of the lender. Finally, we evaluated each provider’s customer support tools, borrower perks and features that simplify the borrowing process—like prequalification options and mobile apps.
Where appropriate, we awarded partial points depending on how well a lender met each criterion.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Personal Loans Rating & Review Methodology.
Find the Best Personal Loans of 2026
Frequently Asked Questions (FAQs)
Are emergency loans worth it?
Emergency loans can be worth it if you’re facing an urgent financial situation with no other options available. Emergency loans can provide fast access to funds, but often come with high interest rates and other borrowing costs. You may also face short repayment periods and high payments that make it difficult to stay on top of your debt obligations.
How can I get emergency funds immediately?
You may be able to get emergency funds the same day you’re approved, but many lenders disburse loan proceeds within a few days after approval. Approval and funding timelines vary by lender and depend on documentation, verification requirements and the disbursement method.
What is the minimum credit score for an emergency loan with bad credit?
The minimum credit score for an emergency loan with bad credit varies by lender, but is usually around 580 or higher. Some lenders may accept scores as low as 300 or focus more heavily on income and other factors. Check specific lender criteria to evaluate your approval odds before undergoing a hard credit inquiry.
Does getting an emergency loan with bad credit affect your credit score?
Getting an emergency loan with bad credit can affect your credit score by resulting in a hard credit inquiry. In contrast to the soft credit check a lender may use to prequalify you for a loan, a hard inquiry appears on your credit report and can cause a temporary dip in your score. Once approved for a loan, consistent, on-time payments can boost your credit score over time, while missed payments or high levels of debt can cause your credit score to drop.